Leading fiber broadband provider ConvergeICT Solutions Inc. officially joined the basket of blue-chip companies under the Philippine Stock Exchange index Monday, having qualified for early inclusion after passing the criteria set by the PSE in its amended index management policies.
Converge is also now included in the PSE services index.
Converge closed at P27.00 on Monday, with a market capitalization of P 205.4 billion. The fiber broadband operator hit an all-time intraday high of P 29.05 per share on Friday. For the July 2020 to June 2021 review, the local bourse considered ‘early inclusion of large issuances’ to align with the global standards adhered to by peer indices.
“It’s an honor for us to be considered among the most valuable and stable companies in the country. Being part of the market barometer reflects our company’s even footing in the market, and how much that’s valued by the public,” said Converge chief executive Dennis Anthony Uy.
“With our inclusion in the PSEi, we hope to contribute in giving a balanced outlook of the broader economy,” said Converge president Grace Uy.